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August 24, 2014

Enlight Media reports lower profits

The Chinese media company has reported that during this first half of 2014 their books show lower revenue than expected.Beijing Enlight Media is one the biggest Chinese companies that is dedicated to invest, produce and distribute content for TV and Cinema. Their television productions vary from TV series, soap operas, news shows, and entertainment shows, among others. The company dedicated to produce movies, Enlight Pictures, is considered one of the top five distributors in China. Per year the company is able to release ten movies.

This month the company released their evaluation about the first half of 2014 and despite having several blockbusters films in cinemas they show a lower profit than expected. During the first half of 2014, Enlight Media shows a profit of $48.9 million dollars, a year-on-year drop of 35.7% from 2013´s $76 million dollars. The company attributes this numbers to the low productions of TV shows, which also affect its advertising revenue. Regarding revenue from films, Enlight Pictures register a profit of $31.5 million dollar, a-year-to-year drop from 43.9% from 2013´s $56.6 million dollars.

Enlight Media seeks to revert this situation in the next months as the company still has to release ten films to the market during this second half of the year including “The Four 3” (Gordon Chan), “Dearest” (Peter Chan), “Comrades, Almost a Love Story” (Peter Chan) and “Difficult Love” (Gao Xixi). The company thinks this releases will bring profits of $569 million dollar in 2014 and $812 million dollars in 2015.